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Evangelista, 56, said the treatment was supposed to decrease her fat cells but had the opposite effect, leaving her “unrecognizable”.
The Canadian model added that she was forced to get “two painful, unsuccessful, corrective surgeries” following the procedure five years ago.
“It has sent me into a cycle of deep depression, profound sadness and the lowest depths of self-loathing,” she wrote on Instagram.
“In the process, I have become a recluse.”
Ms Evangelista said her livelihood had been ruined and hinted that she is suing the clinic who administered the treatment.
“I am moving forward to rid myself of my shame, and going public with me story,” she wrote.
“I’m so tired of living this way. I would like to walk out my door with my head held high, despite not looking like myself any longer.”
Ms Evangelista had a slimming treatment that uses cold temperatures to reduce fat deposits in certain areas of the body.
She experienced a “very rare but serious side-effect” in which “the fat cells in the treatment site grow larger rather than smaller”.
Ms Evangelista rose to fame in the 1990s and was one of a group of emerging supermodels including Naomi Campbell, Kate Moss and Christy Turlington.
Writing in the comments beneath the post, Ms Campbell said: “I applaud you for your courage and strength to share your experience and not be held hostage by it anymore.”
Edward Enninful, editor of Vogue, said: “We, love you, Linda. Always brave and inspiring. You will always be an icon.”